Sidoti assumed coverage on shares of Ranpak (NYSE:PACK) in a report published on Monday, The Fly reports. The brokerage issued a buy rating on the stock.
Separately, TheStreet raised Ranpak from a d+ rating to a c rating in a research report on Tuesday, February 23rd.
PACK stock opened at $18.50 on Monday. The stock has a 50-day moving average price of $20.01 and a two-hundred day moving average price of $15.65. Ranpak has a 12-month low of $6.63 and a 12-month high of $22.06. The company has a current ratio of 1.95, a quick ratio of 1.67 and a debt-to-equity ratio of 0.82. The company has a market cap of $1.40 billion, a PE ratio of -59.68 and a beta of 1.08.
Several hedge funds and other institutional investors have recently modified their holdings of the company. Cubist Systematic Strategies LLC purchased a new position in Ranpak in the third quarter valued at about $249,000. Hussman Strategic Advisors Inc. purchased a new position in Ranpak in the fourth quarter valued at about $343,000. BlackRock Inc. boosted its holdings in Ranpak by 4.5% in the fourth quarter. BlackRock Inc. now owns 2,241,187 shares of the company’s stock valued at $30,122,000 after purchasing an additional 95,672 shares during the last quarter. Citigroup Inc. boosted its holdings in Ranpak by 26.6% in the fourth quarter. Citigroup Inc. now owns 9,794 shares of the company’s stock valued at $132,000 after purchasing an additional 2,056 shares during the last quarter. Finally, Cetera Advisor Networks LLC purchased a new position in Ranpak in the fourth quarter valued at about $265,000. 81.33% of the stock is owned by institutional investors.
Ranpak Company Profile
Ranpak Holdings Corp., together with its subsidiaries, provide product protection solutions for e-commerce and industrial supply chains in North America, Europe, and Asia. The company manufactures and assembles proprietary protective systems that convert kraft paper into a range of packaging and cushioning products to address its customers' needs.
See Also: Which market index is the best?
Receive News & Ratings for Ranpak Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ranpak and related companies with MarketBeat.com's FREE daily email newsletter.